The 17th International Conference on Sustainability Disclosure (Yangtze River Delta Region) convened

source:goldencsr date:2024-12-25 15:41:55

On December 13th, the 17th International Conference on Sustainability Disclosure (Yangtze River Delta Region), organized by the GoldenBee ThinkTank, was held in Shanghai. The event was supported by Caijing Magazine, China Sustainability Tribune, and TUV NORD, with approximately 130 guests in attendance.

The participants had in-depth discussions on topics such as global trends in sustainability disclosure, the outlook for Chinese enterprises’ sustainability disclosure, and the transparency of ESG information disclosure.

During the conference, the Drive+ — China Network was officially launched, and the “GoldenBee 2024 Sustainability Reports Honor Roll of Listed Companies in Yangtze River Delta Region” were released concurrently.

Insights
Trends in High-Quality Sustainability Disclosure

As sustainability issues deepen, regulatory requirements become stricter, and societal expectations increase, there is a growing global consensus to enhance the materiality of topics, increase the transparency of information disclosure, and promote high-quality sustainability disclosure. The introduction of new regulations and requirements, such as the standards of International Sustainability Standards Board (ISSB) and the Guidelines for Listed Companies’ Sustainability Reporting, provides strong support for high-quality sustainability disclosure by Chinese enterprises.

He Yang

He Yang, Assistant to the President of GoldenBee Consulting, presented the GoldenBee Research on the Sustainability Report of Listed Companies in the Yangtze River Delta Region (2024) at the event. Based on the “GoldenBee Chinese Enterprises Sustainability Report Evaluation System 2024,” the report thoroughly assessed and analyzed the disclosure status of 921 listed companies in the Yangtze River Delta Region. It identified the characteristics of their sustainability disclosure and provided recommendations for improvement, offering guidance to listed companies in the region to better implement sustainable development management and produce good practices.

Guo Siping, Head of Greater China for MSCI ESG and Climate Research Department, delivered a presentation titled “From Transparency to Action: Sustainable Investment and Disclosure Trends of Global and Chinese Market.” She highlighted the latest developments of Chinese regulations on sustainable development and climate change, as well as the progress made by Chinese companies in climate information disclosure, emission reduction target setting, and climate transition opportunities.

Guo Siping

She noted that sustainability and climate factors are increasingly becoming key considerations in investment decisions. In recent years, the assets under management of ETFs tracking MSCI ESG and climate indices have continued to grow, and investors and companies are gaining a deeper understanding of the notion that “ESG risks are financial risks.” Additionally, the ESG ratings of MSCI China Index constituents have shown a significant upward trend.

Furthermore, research on the correlation between MSCI ESG ratings and long-term financial performance indicates that companies with higher MSCI ESG ratings generally exhibit stronger profitability, lower tail risk, and reduced systemic risk.

Fredré Ferreira, Leader on Governance, Value chain and NESRS at the European Financial Reporting Advisory Group (EFRAG), gave a speech named “Sustainability in EU: A Changed and Changing Landscape”, sharing the status of sustainability disclosure in the EU amidst changing landscapes and interpreted the European Sustainability Reporting Standards (ESRS) and CSRD and their important roles.

Fredré Ferreira

She specifically mentioned that the CSRD is a directive aimed at corporate social responsibility, intended to promote sustainability disclsoure as financial information instead of non-financial information. She recommended that Chinese companies follow these regulations on sustainability disclosure as much as possible to ensure compliance and competitiveness in the EU market.

Ye Zhengzhi, Vice President of TÜV NORD Greater China, shared his insights on the topic “To improve ESG Reporting Transparency and Credibility by Report Certification.”

Ye Zhengzhi

He introduced the AA1000 assurance process, standards, types, and levels, emphasizing the crucial role of report assurance in improving the quality of ESG reports. Driven by regulatory and rating requirements,and industry trends, third-party assurance of the reports has become a growing trend for listed companies, SOEs, and central SOEs to ensure the quality of their reports. Report assurance ensures the authenticity, accuracy, and completeness of the data and information in the reports, demonstrating their credibility and transparency to stakeholders. Additionally, it helps companies better identify and address the challenges and opportunities of sustainable development.

During the conference, the Sustainable Supply Chain Platform for Automotive Suppliers — Drive+ China Network was officially launched, faciliated by GoldenBee in China.

Release
“GoldenBee 2024 Sustainability Reports Honor Roll of Listed Companies in Yangtze River Delta Region”

The conference released the “GoldenBee 2024 Sustainability Reports Honor Roll of Listed Companies in Yangtze River Delta Region.” Out of 921 evaluated reports, reports from 36 companies were recognized as excellent reports.

The release of the "Sustainability Reports Honor Roll of Listed Companies in Yangtze River Delta Region" showcases the good practice of sustainability disclosure of listed companies in Yangtze River Delta Region, providing examples for other listed companies in sustainability disclosure, which will significantly promote the continuous improvement of sustainability reports in both quantity and quality in this region.